In the last 24 hours, there has been a 1% decrease in Hedera's value, showing a slight deviation from the general market trend towards growth. This decline follows a period of price stabilization, which could potentially signal a forthcoming uptrend.

Data from on-chain metrics suggests a return of bullish sentiment in the HBAR market. With a decrease in selling pressure, this altcoin may be able to surpass the $0.20 price level soon.

The HBAR liquidation heatmap reveals a notable concentration of liquidity at the $0.203 price range. Traders utilize these heatmaps to pinpoint zones where a significant number of leveraged positions could be liquidated if the price hits specific levels. These liquidity areas often attract price movements as the market tends to gravitate towards them to trigger liquidations and allow new positions to open.

Consequently, the substantial liquidity concentration at the $0.203 price level for HBAR indicates a strong trader interest in buying or closing short positions around that point, which could pave the way for a potential price surge in the near future.

Additionally, despite a lackluster price performance, HBAR's funding rate remains positive, currently standing at 0.027%. This reflects a persistent demand for long positions, as traders holding these positions pay those with short positions, indicating an optimistic outlook for price increase.

Analyzing the daily chart, the slight increase in HBAR's Chaikin Money Flow (CMF) today affirms a revitalization of buying pressure, with the CMF at 0.06. The CMF measures the money flow into or out of an asset, with a positive value indicating higher buying volume compared to selling volume, suggesting investor accumulation.

This positive trend supports the notion that demand for HBAR is strengthening despite recent price consolidation. If this momentum continues, the token's price could reach $0.23. However, there is a possibility of HBAR's price dropping below $0.19 if selling pressure intensifies.